nLIGHT (LASR) Cantor Fitzgerald Global Technology Conference summary

Company overview and business evolution

• Focused on lasers for commercial and defense markets, with a shift from 80% commercial/20% defense in 2018 to over 60% defense revenue by Q4 2023.

• Publicly traded since 2018, with $200 million in revenue and headquarters in the Pacific Northwest.

• Vertically integrated, leveraging technology across both commercial and defense applications.

Defense segment growth and major programs

• Defense revenue expected to grow 25% year-over-year in 2025, supported by $399 million backlog, with $170 million funded.

• HELSI-2 program: $171 million contract to deliver a 1 MW laser for directed energy, with shipments ramping in late 2024 and delivery in 2026.

• DE M-SHORAD: $35 million award for a 50 kW laser integrated into Stryker vehicles, with most revenue recognized and field trials expected in 2025.

• Technology spans low (10 kW), medium (50–100 kW), and high (300 kW+) power lasers, addressing a range of defense threats.

International and U.S. defense opportunities

• Israeli Iron Beam program: $500 million to field a 100 kW class laser in 2025, with nLIGHT supplying components and potential for higher revenue share as integration increases.

• U.S. defense evaluating use cases for directed energy, with significant RFP activity and a growing pipeline of $10–100 million opportunities.

• U.S. Navy has clear use cases for high-powered systems, while Army is still determining optimal deployment strategies.